24th feb.,2014 daily global rice e newsletter by riceplus magazine


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24th feb.,2014 daily global rice e newsletter by riceplus magazine

  1. 1. 24th February, 2014 Share developments in RICE and allied sectors, Promote the Concept of Knowledge Economy Dear Sir/Madam, YOUR IDEA has a great worth---JUST share it through RICE PLUS Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  2. 2. 10000+ stakeholders of rice industry read & apply various ideas and analysis written by the authors. Be the part of Rice plus authors Visit: www.ricepluss.com,www.publishpk.net mujahid.riceplus@gmail.com, riceplus@irp.edu.pk TOP Contents - Tailored for YOU Latest News Headlines…               NFA rice import losses to hit P1.4B, say solons Farmers back govt bonds to raise money for rice payments Rice farmers will protest in large number again, destination not revealed Urgent funding sought for farmers Paddy harvest drops, rice prices rise Vietnam rice deal ‘very transparent’ ATTENTION ARKANSAS RICE FARMERS: Vernie Hubert to Highlight Farm Bill Discussion Group asks Administrative Court to halt rice scheme Petition filed to stop rice-pledging scheme India likely to export 18 mln tonnes rice, wheat in 2013/14 - govt adviser Egypt says official suspected of corrupt rice deals, not wheat Nagpur Foodgrain Prices Open- Feb 24 TABLE-India Grain Prices-Delhi- Feb 24 Pundits urge fast-tracking budget to pay rice farmers NEWS DETAILS: Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  3. 3. NFArice import losses to hit P1.4B, say solons By Gil Cabacungan,Philippine Daily Inquirer 5:48 am | Monday, February 24th, 2014 MANILA, Philippines—Militant lawmakers on Sunday said the National Food Authority‘s losses from the importation of millions of tons of overpriced rice from Vietnam since last year would hit P1.42 billion.Bayan Muna party-list Rep. Neri Colmenares said in a statement the NFA‘s recent purchase of one million metric tons of rice from Vietnam for the country‘s buffer stock for the third quarter this year was overpriced by P899 million.Colmenares said the NFA had already lost P521 million from last year‘s overpriced purchase of 500,000 MT of Vietnam rice for buffer requirements in the first quarter this year.Colmenares cited the US Department of Agriculture‘s Grains Report, which showed that the prevailing market price of rice was only $377.86 per MT from Nov. 16 to 22 last year compared to the NFA‘s purchase from Vietnam at $462.25 per MT during the same period.Bayan Muna Rep. Carlos Zarate warned the overpriced rice would lead to higher prices later this year.Anakpawis party-list Rep. Fernando Hicap said the NFA imports would ―flood the local market and compete with the rice produced by our farmers because (the rice imports) would arrive during the harvest season from April to May.‖Colmenares said Congress should investigate the NFA‘s buying decisions to determine whether the agency was acting in the best interest of the people.―I think that it would be more prudent to hold the importation of the one million MT of rice until all has been done to ensure that the Filipino people are not being duped,‖ said Colmenares.But an agriculture industry alliance, the Samahang Industriya ng Agrikultura (Sinag), defended the Department of Agriculture‘s policy of keeping the NFA as the sole importer of rice amid warnings the Philippines could face sanctions for continuing to impose quantitative restrictions on rice. Sinag chair Rosendo So said in a statement the Philippines had 22 pending dispute cases with other members of the World Trade Organization (WTO) and adding one more infraction—keeping its rice market closed to foreign players to protect local players—would push it closer to being penalized by the global trading body.―If we follow the assumptions of so-called trade experts, there would have been global trade chaos given the number of cases filed by WTO-member complainants against each other. More than the Philippines, trade sanctions and penalties should have long been imposed on the US and EU since both of them—including our major trading partners—have hundreds of dispute cases between them,‖ So said.―Trade sanctions are never imposed at the first instance. Under WTO rules, the losing defendant should instead bring its domestic policy in line with the ruling,‖ So said. Farmers back govt bonds to raise money for rice payments Monday, 24 February 2014By MCOT BANGKOK, Feb 24 – The Thai Farmers and Growers Association (TFGA) has give its support to the government‘s move to issue bonds to raise funds for overdue payments to farmers from the rice pledging Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  4. 4. scheme.The farmers from the central region also called on the anti-government People‘s Democratic Reform Committee (PDRC) not to disrupt the issuance of state bonds, proposed last week by the Finance Ministry. TFGA leader Wichian Phuanglamchiak said farmers wanted nothing but money for their rice but the PDRC and its network have obstructed government attempts to secure money from any channel.―From what the PDRC has done, how can it say it is helping farmers?‖ he asked.He said protesters should stop using farmers as political hostages and the PDRC should focus on other issues instead of barring rice payments, if it wanted to oust the government.Since rice subsidies for paddy in the 2013/2014 crop will end on Feb 28, rice millers have pushed the paddy price down to only Bt6,000 per tonne, and the price will plummet after this month, he said.Mr Wichian described as nothing new a proposal by Phra Buddha Issara, a PDRC core leader, to set up a rice farmer council to protect farmers and look into their welfare, saying the council will create rifts among Thai planters.―Thailand has had a grower council, represented by growers in every field. A rice farmer council will create privilege to rice growers in the eye of planters of other crops such as sugarcane, rubber, corn and tapioca,‖ he said. Rice farmers will protest in large number again, destination not revealed Published on February 24, 2014 by TFP BANGKOK, 23 February 2014 (NNT) †‖ Another mass rally by the farmer protesters at the Ministry of Commerce has been set on 25 February 2014 to demand answers from the government about long-overdue rice payments.Coordinator of the Farmers†™ Network Natthawat Chanin-ngam said the farmer protesters would rally en masse again this Tuesday to press the government on payments in the rice pledging scheme after the government promised that it would spend four billion baht/week to pay them. Mr Natthawut however declined to disclose where the protesters would travel to, saying that they would meet on Monday to plan their movements.Civil servants who worked at the Ministry of Commerce were allowed to enter their office on Monday but they were prohibited from bringing a personal car to the ministry, said the coordinator.The protesters have surrounded the Ministry of Commerce in Nonthaburi province since 19 February this year to protest against the government who owes them payments worth 130 billion baht in total. ( Suwit Rattiwan) Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  5. 5. Urgent funding sought for farmers PIYANART SRIVALO THE NATION February 25, 2014 1:00 am THE NATIONAL Rice Policy Committee will today ask the Cabinet to allocate Bt10 billion to Bt20 billion from the central budget as an urgent measure to help farmers owed payments under the rice-pledging programme."The committee will further seek approval from the Election Commission if the Cabinet gives the nod," caretaker Commerce Minister Niwatthumrong Boonsongpaisan said yesterday after chairing a meeting of the committee. The committee also accepted that because of the government's caretaker role, it could not proceed with the rice-pledging project for the second-crop rice season beginning in June, which could affect farmers' incomes.Niwatthumrong said the committee agreed to ask for a special budget from the Cabinet to help farmers in the short term, while the government would accelerate rice sales to raise more money for them.For each of the four months from last October to January this year, the Commerce Ministry was able to return an average Bt8 billion to the Finance Ministry after selling about a million tonnes of rice a month. However, Niwatthumrong accepted that its expected earnings from rice sales would not by themselves be enough to cover the Bt110 billion or so still owed to farmers within a short period. The caretaker government needs to get approval from the EC to issue bonds, and also for some budget allocations from the Cabinet.The ministry will also continue to sell rice from its stockpiles totalling about a million tonnes a month for the farmers. The government has about 12 million to 13 million tonnes of rice in the stockpiles, he said.Also yesterday, the Bank for Agriculture and Agricultural Cooperatives held a board meeting to consider how to raise funds to help the farmers. The meeting had not concluded by press time.Recently, it emerged that the BAAC might issue promissory notes worth Bt80 billion to pay the farmers. The first batch was expected to be Bt20 billion. The state-owned Vayupak Fund was reportedly one targeted purchaser of the notes.MFC Asset Management, one of the Vayupak fund managers, said yesterday that the fund would follow its investment policy as designed previously. The fund is allowed to invest in equities categorised in SET 50 listed companies and is able to hold Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  6. 6. bonds as liquidity to manage its investment shift to equities more easily. "As of now, the Vayupak Fund, which has two committees - regulatory and investment - has not called for a meeting. So the fund's investment policy will be unchanged," said MFC first executive vice president Pannarat Bhanpato. Meanwhile, Veera Vutthikongsiri-gool, senior executive vice president of Krungthai Asset Management, another Vayupak fund manager, said the fund committee would have to see whether the BAAC's promissory notes would offer an interesting yield and maturity period. However, he said that if the fund decided to invest in the promissory notes, it would not mean that it would have to offload its investment in equities in order to buy them. Sombat Narawutthichai, secretary-general of the Government Pension Fund, yesterday again denied a rumour that the Finance Minister had an idea to ask the Finance Ministry might ask the GPF to invest in the promissory notes issued by the BAAC to fund the government's rice project. Moreover, he insisted that the GPF had not called for an urgent meeting of its board members to discuss the matter. "The next meeting, which is an ordinary one, will take place by the end of March," said Sombat, adding that the fund's portfolio was now fully invested. Paddy harvest drops, rice prices rise By Chathuri Dissanayake An estimated 35 per cent drop in the paddy harvest expected in the current season is showing an upward trend in the prices of rice, Agriculture Ministry Secretary, R.M.D.B. Meegasmulla said yesterday. He said the prevailing drought conditions had affected the harvest in some of the main paddy growing districts including, Anuradhapura, Kurunegala and Ampara. With the prolonged drought affecting the paddy harvest, farmers in many areas have switched to alternate crops. Farmers in this one-time paddy field in Anuradhapura are seen checking on their banana cultivation. Pic by Indika Handuwala. ―We have enough paddy stocks for a few months, but as the market is controlled by private rice mill owners there may be price fluctuations,‖ Mr. Meegasmulla said.The Ministry Secretary said there had already been a small increase in the prices of rice. However they hope to keep prices under control as the harvesting in Ampara was already under way.Agriculture Minister Mahinda Yapa Abeywardena said Sri Lanka might experience a shortage of rice if the harvest from the next season also drops drastically.He said that in view of forecasts that the current drought might continue for some time, instructions had been issued to the affected districts to switch from paddy Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  7. 7. cultivation to alternate crops.According to the minister the Irrigation Department will not be able to supply sufficient quantities of water needed for paddy cultivation.Relevant departments in the districts affected have been told to cultivate crops such as green gram, soya beans and kidney beans. The ministry has also decided to give a 50 percent subsidy to buy seeds needed, in an attempt to encourage the farmers to switch to alternate crops.Some of the district secretariats have advised farmers in their areas to switch to alternate crops for the coming season. Anuradapura District Secretary, Mahinda Seneviratne said farmers had been advised to cultivate alternate crops at least in part of their land if they wish to earn a profit from the next season.Mr. Abeywardena said the ministry would take steps to ensure the farmers were paid a guaranteed price for their produce.The minister said there was a good guaranteed price of rupees 80 for a kilogram of soya beans and the ministry would ensure high quality seeds would be provided for the next season that seeds are readily available for the farmers and assured the ministry would ensure the seeds are of high quality to avoid soya crop failure, which occurred last year due to poor quality seeds. Vietnam rice deal ‗very transparent‘ 24.02.2014 THE National Food Authority on Sunday admitted ignoring a cheaper offer from the Thai government for the 500,000 metric tons of rice that it imported in 2013 to avoid ―endless bidding.‖NFA spokesman Rex Estoperez also denied that the rice imported from Vietnam was overpriced by P521 million, insisting that the bidding process was ―very transparent.‖―During the time of bidding, Thailand offered $475 per metric ton and Vietnam offered $ 462.25. After the award, Thailand offered $462, which was no longer allowed. [Accepting the Thai offer] would be unfair to the lowest bidder and if that‘s the case, the bidding would be endless,‖ Estoperez said.―For example, Thailand offered $462 per metric ton and then Vietnam makes another offer and after that Thailand again makes an offer--that‘s endless,‖ Estoperez added.But Senior Deputy Minority Leader Neri Colmenares, Bayan Muna Rep. Carlos Zarate and Anakpawis Rep. Fernando Hicap lambasted NFA Administrator Orlan Calayag for violating the Procurement Act to favor Vietnam‘s bid offer.―The transaction with Vietnam at face value is very suspicious. First, why should we get from Vietnam when Thailand‘s offer is cheaper? Secondly, why didn‘t the NFA get the rice from the port instead of having Vietnam deliver the rice to the various warehouses in the provinces?‖ Colmenares said.Hicap also said Calayag violated the Procurement Act by failing to publish invitations for an international tender that would have enabled other rice-producing countries such as Myanmar, India and Pakistan to participate.Based on official government documents, copies of which were furnished the Manila Standard, the NFA opened on Nov. 26, 2013 the sealed bids of the Thai and Vietnamese governments for the 500,000-metric tons of white rice. Cambodia was also invited but failed to make an offer.The rice import was to serve as a buffer stock for December 2013 until March 2014, before the summer crop, which is normally harvested in April and May. On the same day, the Thai government, through Director General Surasak Riangkul of the Department of Foreign Trade Ministry of Commerce, invoked a memorandum of agreement it signed with the Philippine Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  8. 8. government, allowing the Thais to make a counter-offer, official documents show.But Calayag ignored the Thai government‘s offer and immediately awarded the contract to Vietnam on the same day that the sealed bid was opened and the winner was announced.The Thai government offered a lower price of $462 per metric ton as against Vietnam‘s winning offer of $462.25 or 25 cents less than Vietnam‘s.In a Nov. 26 letter to Calayag, Riangkul said: ―Please refer to the MOA signed in June 2011 between the Royal Thai Government and the Philippine Government, which states that ‗The Philippine Government shall invite the Royal Thai Government to submit offers to the Philippine Government. The price, offered by Royal Thai Government shall be reviewed and evaluated by the Philippine Government.‘―Should the price quoted be acceptable to the Philippine Government, it shall accept the offer and proceed with the procurement of the commodity. If the price is not acceptable, the Parties shall immediately proceed to negotiate an acceptable price until an agreement is reached. The Parties shall endeavor to reach an agreement within a period of 10 days after the start of the negotiations,‖ Riangkul told Calayag. ―In this regard, after the disclosure of the bidding result for 500,000 MTs of white rice 25% brokens on November 26, 2013, the offered price by the Thai side is slightly higher than the Vietnamese price offer. With a view to realize G to G (Government to government) trade between the two countries under the MOA and to support food security in the Philippines after the adverse effects from the typhoon, we would like to re-offer our price, US$462 per MT for your consideration,‖ Riangkul said.Zarate said it was ―anomalous‖ that Calayag sought the legal opinion of the Office of the Government Corporate Counsel on Nov. 29, three days after the contract was already awarded to Vietnam.On Dec. 5, Government Corporate Counsel Raoul Creencia sustained the NFA position that the basis for bidding should be the Procurement Act, ―hence Thailand could no longer lower its offer and negotiate thereafter,‖ as the MOA required.Colmenares said the deal with Vietnam would also open the door to smuggling as Vietnam could deliver extra rice to ports or private warehouses on the way to delivering to NFA warehouses.He added that Vietnam‘s charges for direct delivery to the NFA warehouses also pushed up the total import price. Estoperez, however, said delivery of rice to NFA warehouses had no cost to the government.―We availed of the scheme that requires the seller to be responsible for making a safe delivery of goods to a named destination (warehouse), paying all necessary expenses, like insurance, transportation expenses, spillages, shrinkages, short landed costs, etc., but not the duty,‖ Estoperez said.But Colmenares said the NFA could have bought at $365 instead of $462.25 per MT if it took charge of delivery.He also said the NFA violated not only its agreement with Thailand, but also the Procurement Act in favor of Vietnam.Estoperez said the bidding was done in the presence of the media, the Commission on Audit and civil society groups, and dared critics to prove that the Vietnamese rice was overpriced.―If they prove their allegations then punish those who are involved,‖ he said. ATTENTION ARKANSAS RICE FARMERS: Vernie Hubert to Highlight Farm Bill Discussion, Wednesday, February 26 in Brinkley, Arkansas By US Rice Producers Association Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  9. 9. Published: Monday, Feb. 24, 2014 - 9:24 am BRINKLEY, Ark., Feb. 24, 2014 -- /PRNewswire-USNewswire/ -- With the recent passage of the Agricultural Act of 2014 (aka Farm Bill), the Arkansas Rice Growers Association is conducting an important and informative meeting on Wednesday, February 26 at the Brinkley Convention Center in Brinkley, Arkansas. Registration will start at 8:30am and the meeting will begin at 9:00am. Lunch will be served.An excellent program for area rice farmers, the event will include the participation of Vernie Hubert, a well known figure in the circles of agriculture on Capitol Hill. The meeting will cover all the commodity provisions of the Farm Bill and will include an open discussion so farmers have the opportunity to ask questions. Mr. Hubert has more than 25 years experience with and in the federal government with a specific focus and expertise in agricultural policy. A senior staff professional in both the US House of Representatives and the US Senate during this timeframe, Mr. Hubert served as the Minority Chief Counsel to the US Senate Ag Committee and Majority General Counsel & Majority Deputy Chief Counsel for the Senate Ag Committee. Prior to moving to the Senate, Mr. Hubert spent 20 years as a professional staff member for the US House of Representatives Committee on Agriculture. Mr. Hubert is currently employed by Cornerstone Government Affairs in Washington DC, an office that specializes in agriculture policy and provide strategic advice and practical assistance with federal decisionmakers to develop solutions for today's challenges. A graduate of Texas A&M University, Mr. Hubert has a law degree from St. Mary's University School of Law.Other important presentations for rice farmers include a rice market report from Dennis DeLaughter of Vantage RM. A popular speaker at numerous conferences, Mr. DeLaughter is a rice farmer himself and a member of the Chicago Board of Trade. He will take a look at the current rice market and where he expects it will go in the next 12-24 months.Gary Billups of Crippen International will introduce the PAZ rice quality sampling machine, a new technology for measuring rice grades for consistent results. The Arkansas Rice Growers Association has made an serious effort to find a more consistent method of grading farmers' rice at the various locations where farmers sell their rough rice. There will be a PAZ machine for demonstration.The program will also include Dr. Jarrod Hardke, an agronomist with the University of Arkansas Rice Extension Service will talk about rice production and Paul Byrd, an attorney will discuss legal issues that Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  10. 10. are important to farmers. ARGA's Greg Yielding will update the audience on the US-China rice protocol effort and related activities of the US Rice Producers Association.The US Rice Producers Association, representing rice farmers in Mississippi, Missouri, Texas, California, Arkansas and Louisiana, is the only organization solely representing the views of U.S. rice farmers. SOURCE US Rice Producers Association Group asks Administrative Court to halt rice scheme The Nation February 25, 2014 1:00 am Civil networks sought a ruling from the Administrative Court yesterday to try to halt the government's controversial rice-pledging scheme.They also want the court to force caretaker Prime Minister Yingluck Shinawatra to order and conclude an investigation into what they said were irregularities and corruption in the scheme within 30 days.Yingluck's Pheu Thai Party launched the populist rice-pledging scheme despite warnings from various experts. "This scheme has incurred massive losses. If it continues, it will adversely hurt the country's economy," Anti-Global Warming Association president Srisuwan Janya said. He represented 64 members of the Organisation for Protection of the Thai Constitution, plus the Association for the Protection of Consumers and Farmers, in filing the petition with the court.The petition targets the PM the National Rice Policy Committee, commerce minister and permanent secretary for the Commerce Ministry. It is alleged that they went ahead with the scheme, accepting all Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  11. 11. the rice at a price higher than market price and securing loans as a revolving fund for the project. As a result, the domestic rice market became unusually distorted with a large amount of accumulated rice in the state's stockpile.Irregularities and abuse of power in operating the scheme had resulted in bad impacts and damage to consumers across the country, the petition said.Srisuwan asked the court to issue an injunction to stop the scheme during the trial process. The court was also asked to order the defendants to make a list of the number of farmers involved and the amount of money they were owed for their rice. It was asked that the defendants be made to pay or give assets as payment to the farmers within 30 days after the court issues its order. Petition filed to stop rice-pledging scheme The Nation February 24, 2014 4:45 pm The Stop Global Warming Association on Monday filed a petition to the Administrative Court, seeking the judicial power to sanction the rice-pledging scheme.In the petition, filed on behalf of 64 consumers and farmers, it said the pledging scheme, which quotes above-market prices, results in the compilation of huge stocks. Deterioration in the quality hurts consumers and farmers and if allowed to proceed, the scheme would cause harms to the economy.The petition named Yingluck, the National Rice Policy Committee, Commerce Minister and Commerce permanent secretary as the defendants. The plaintiff seeks the court‘s ruling that the scheme must be stopped and an investigation into Prime MinisterYingluck Shinawatra over possible corruption be launched within 30 days. The court is also asked to have the four defendants pay the unpaid debt to farmers. The plaintiff also asks for an injunction on the rice scheme.Srisuwan Janya, president of the association, said that the petition is filed because the prime minister insisted on proceeding with the scheme though the government has no money to repay farmers. The scheme has cost losses and if proceeding, it will affect the overall economy. India likely to export 18 mln tonnes rice, wheat in 2013/14 - govt adviser BY JO WINTERBOTTOM AND MAYANK BHARDWAJ NEW DELHI Mon Feb 24, 2014 4:44pm IST Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  12. 12. Feb 24 (Reuters) - India is likely to export about 18 million tonnes of rice and wheat in 2013/14, the government's adviser on farm prices said, as the world's second-biggest producer of these grains looks for ways to handle another record crop.Ashok Gulati also suggested India should release 15-20 million tonnes of the grains for open market sales to cut massive mounds of stocks and help ease food inflation.India, the world's biggest rice and wheat producer after China, exported 22 million tonnes of the grains in the last fiscal year to March 31, 2013 after New Delhi lifted a four-year-old ban on overseas shipments of the staples in late 2011."Exports of 2012/13 and likely exports this year mean 40 million tonnes of shipments. You look at whatever historical data you have, India has never ever done that," said Gulati, chairman of the Commission on Agricultural Costs and Prices.Gulati has advocated regular exports of rice and wheat from India. Rising rice exports helped India replace Thailand as the world's top rice exporter and wheat shipments picked up at the expense of rival suppliers Russia and Ukraine.Unlike wheat, India does not export rice from government warehouses but shipments totalled about 10 million tonnes in 2012/13 and Gulati said they may be 11 million tonnes this year.Global wheat prices fell 25.6 percent to $6.05 a bushel in 2013 due to oversupply, with benchmark Chicago futures still hovering around that level.Global rice supplies are seeing a sharp increase as the embattled government of Thailand rushes to liquidate its stockpiles in order to pay farmers and avoid further protests.Benchmark Thai rice prices fell as much as 15 percent last week. BUMPER HARVESTS Despite its export push, India sits on huge stocks of grains, thanks to bumper harvests since 2007. It took steps to boost production after unfavourable weather conditions hit the 2006 wheat harvest, forcing India to import large quantities from Australia at sky-high prices.Stocks at government warehouses are still 2.25 times more than targets and lack of storage means much rots away even though India tries to provide cheap food to about 800 million."We have been recommending to the government to immediately liquidate 15-20 million tonnes of rice and wheat. Holding on to such high stocks is unnecessary," said Gulati, who is about to leave office after a nearly three-year term as the adviser. The government buys rice and wheat from local farmers at a fixed price which is raised every year to encourage production, build stocks to supply subsidised food and meet any emergency needs such as a sudden spike in prices.Hefty production and higher purchases by the government inflate the subsidy bill, which the government has pegged at 1.15 trillion rupees ($18.53 billion). Food Minister K.V. Thomas has said the subsidy could touch 1.3 trillion rupees, a major worry for the government as it tries to rein in public finances.Stocks are going to swell further as India's harvest from the current crop year to June 2014 is forecast to be a record 263.2 million Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  13. 13. tonnes of grains.Despite rising production, local prices of grains have jumped because government purchases leave only a small surplus in the market.Domestic prices of rice and wheat combined rose 11.42 percent in January from a year ago, helping to push up food inflation to 9.90 percent, government data showed. ($1 = 62.07 rupees) (Editing by Muralikumar Anantharaman) Egypt says official suspected of corrupt rice deals, not wheat Source: Reuters - Sun, 23 Feb 2014 08:34 AM Author: Reuters This May 28, 2008 file photo shows labourers transplanting rice seedlings in a paddy field in the Nile Delta town of Kafr Al-Sheikh, north of Cairo. REUTERS/Nasser Nuri (Adds background, details) CAIRO, Feb 23 (Reuters) - Egypt referred an import official from the General Authority for Supply Commodities (GASC) to administrative prosecutors on suspicion of corruption over local rice deals, not wheat, the Supplies Ministry said on Sunday.Egypt is the world's biggest wheat importer, normally purchasing around 10 million tonnes a year, and any loss of confidence in that trade could have significant consequences for the market.On Saturday, Supplies Minister Mohamed Abu Shadi had referred the head of the central import administration at GASC to administrative prosecutors for suspected corrupt dealings with traders. "The case has no relation at all with wheat, it is about dealings to purchase local rice from local traders in which the official had extended traders' deadlines to 10 days instead of a week," ministry spokesman Mahmoud Diab told Reuters but declined to name the man.GASC was not immediately available for comment.Abu Shadi also sacked the head of the silos and storage holding company for failing to reach targets set for 2012/13.Saturday's move came just days after two other senior GASC officials were removed, and marked another flashpoint after deposed Egyptian President Mohamed Mursi spent his year in power dramatically reducing wheat imports in a failed attempt at self-sufficiency.Abu Shadi has said self-sufficiency needs swift action towards increasing Egypt's wheat storage capacity from 1.5 million tonnes to 6 million tonnes. (Reporting by Shadia Nasralla and Yasmine Saleh; Editing by Michael Georgy and Alison Williams) Nagpur Foodgrain Prices Open- Feb 24 Mon Feb 24, 2014 3:35pm IST Nagpur, Feb 24 (Reuters) - Gram prices in Nagpur Agriculture Produce and Marketing Committee (APMC) reported higher on good demand from local millers amid weak supply from producing belts.Renewed demand Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  14. 14. from South-based miller and healthy rise in Madhya Pradesh gram prices also boosted sentiment, according to sources. * * * * FOODGRAINS & PULSES GRAM * Gram mill quality recovered smartly in open market on good demand from local millers amid restricted supply from producing regions. Reports about weak crop position in this season because of unseasonal rains also activated stockists. TUAR * Tuar Gavarani firmed up in open market on increased buying support from local traders. Weak overseas supply and upward trend in Madhya Pradesh tuar prices also helped to push up prices. * Jowar varieties declined in open market on poor demand from local traders amid increased supply from producing regions. * In Akola, Tuar - 3,900-4,000, Tuar dal - 6,000-6,200, Udid at 6,000-6,300, Udid Mogar (clean) - 7,000-6,200, Moong - 8,000-8,200, Moong Mogar (clean) 9,400-9,600, Gram - 2,600-2,700, Gram Super best bold - 3,500-3,700 for 100 kg. * Wheat, rice and other commodities remained steady in open market in thin trading activity, according to sources. Nagpur foodgrains APMC auction/open-market prices in rupees for 100 kg FOODGRAINS Available prices Previous close Gram Auction 2,830-2,990 2,790-2,900 Gram Pink Auction n.a. 2,100-2,600 Tuar Auction n.a. 3,820-3,900 Moong Auction n.a. 6,100-6,300 Udid Auction n.a. 4,300-4,500 Masoor Auction n.a. 2,600-2,800 Gram Super Best Bold 3,800-4,000 3,800-4,000 Gram Super Best n.a. Gram Medium Best 3,400-3,600 3,400-3,600 Gram Dal Medium n.a. n.a. Gram Mill Quality 3,300-3,400 3,200-3,300 Desi gram Raw 2,850-2,900 2,900-2,950 Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  15. 15. Gram Filter new 3,200-3,500 3,200-3,500 Gram Kabuli 7,900-10,300 7,900-10,300 Gram Pink 7,700-8,100 7,700-8,100 Tuar Fataka Best 6,400-6,700 6,400-6,700 Tuar Fataka Medium 6,100-6,300 6,100-6,300 Tuar Dal Best Phod 6,000-6,150 6,000-6,150 Tuar Dal Medium phod 5,500-5,700 5,500-5,700 Tuar Gavarani 4,300-4,350 4,200-4,250 Tuar Karnataka 4,400-4,500 4,400-4,500 Tuar Black 7,200-7,400 7,200-7,400 Masoor dal best 5,400-5,500 5,400-5,500 Masoor dal medium 5,100-5,300 5,100-5,300 Masoor n.a. n.a. Moong Mogar bold 8,700-9,950 8,700-9,950 Moong Mogar Medium best 8,800-9,200 8,800-9,200 Moong dal super best 8,500-8,800 8,500-8,800 Moong dal Chilka 7,900-8,200 7,900-8,200 Moong Mill quality n.a. n.a. Moong Chamki best 8,200-8,700 8,200-8,700 Udid Mogar Super best (100 INR/KG) 7,400-7,600 7,400-7,600 Udid Mogar Medium (100 INR/KG) 5,800-6,600 5,800-6,600 Udid Dal Black (100 INR/KG) 4,700-5,000 4,700-5,000 Batri dal (100 INR/KG) 4,000-5,000 4,000-5,000 Lakhodi dal (100 INR/kg) 3,100-3,200 3,100-3,200 Watana Dal (100 INR/KG) 3,300-3,400 3,300-3,400 Watana White (100 INR/KG) 3,300-3,400 3,300-3,400 Watana Green Best (100 INR/KG) 4,300-4,600 4,300-4,600 Wheat 308 (100 INR/KG) 1,700-1,800 1,700-1,800 Wheat Mill quality(100 INR/KG) 1,840-1,890 1,840-1,890 Wheat Filter (100 INR/KG) 1,650-1,850 1,650-1,850 Wheat Lokwan best (100 INR/KG) 2,400-2,500 2,400-2,500 Wheat Lokwan medium (100 INR/KG) 2,000-2,200 2,050-2,200 Lokwan Hath Binar (100 INR/KG) n.a. n.a. MP Sharbati Best (100 INR/KG) 3,000-3,600 3,000-3,600 MP Sharbati Medium (100 INR/KG) 2,400-2,900 2,400-2,900 Wheat 147 (100 INR/KG) 1,600-1,700 1,600-1,700 Wheat Best (100 INR/KG) 1,700-1,750 1,700-1,750 Rice BPT new(100 INR/KG) 2,600-2,950 2,600-2,950 Rice BPT old (100 INR/KG) 2,800-3,300 2,800-3,300 Rice Parmal (100 INR/KG) 1,700-1,850 1,700-1,850 Rice Swarna old (100 INR/KG) 2,500-2,750 2,500-2,750 Rice Swarna new (100 INR/KG) 2,300-2,450 2,300-2,450 Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  16. 16. Rice HMT new (100 INR/KG) 3,800-4,200 3,800-4,200 Rice HMT Shriram (100 INR/KG) 4,700-5,200 4,700-5,200 Rice Basmati best (100 INR/KG) 11,000-13,500 11,000-13,500 Rice Basmati Medium (100 INR/KG) 6,300-7,600 6,300-7,600 Rice Chinnor (100 INR/KG) 5,500-6,000 5,500-6,000 Rice Chinnor new (100 INR/KG) 5,200-5,600 5,200-5,600 Jowar Gavarani (100 INR/KG) 1,300-1,500 1,400-1,600 Jowar CH-5 (100 INR/KG) 1,600-1,700 1,700-1,800 WEATHER (NAGPUR) Maximum temp. 31.2 degree Celsius (88.2 degree Fahrenheit), minimum temp. 17.8 degree Celsius (64.0 degree Fahrenheit) Humidity: Highest - n.a., lowest - n.a. Rainfall : 1.7mm FORECAST: Partly cloudy sky. Rain/Thunder Shower could occur. Maximum and Minimum temperature likely to be around 29 and 16 degree Celsius respectively. Note: n.a.--not available (For oils, transport costs are excluded from plant delivery prices, but included in market prices.) TABLE-India Grain Prices-Delhi- Feb 24 Mon Feb 24, 2014 3:36pm IST Rates by Asian News International, New Delhi Tel: 011 2619 1464 Indicative Previous Grains opening close (in rupees per 100 kg unless stated) ---------------------------------------------------------Wheat Desi 2,200-3,000 2,200-3,000. Wheat Dara 1,825-2,060 1,825-2,060. Atta Chakki (per 10 Kg) 215-240 215-240. Roller Mill (per bag) 1,825-2,125 1,850-2,100. Maida (per bag) 1,825-2,050 1,825-2,050. Sooji (per bag) 1,800-2,000 1,850-2,000. Rice Basmati(Sri Lal Mahal) 12,000-14,000 12,000-14,000. Rice Basmati(Lal Quila) 12,000-14,000 12,000-14,000. Rice Basmati(Common) 8,400-9,400 8,400-9,400. Rice Permal 1,900-2,300 1,900-2,300. Rice Sela 2,850-3,050 2,800-3,000. I.R.-8 1,800-1,900 1,800-1,900. Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
  17. 17. Gram Peas Green Peas White Bajra Jowar white Maize Barley Guwar 3,450-3,800 3,100-3,500 3,100-3,300 1,100-1,300 1,300-2,200 1,300-1,400 1,450-1,550 3,500-4,000 3,450-3,800. 3,100-3,500. 3,000-3,200. 1,100-1,300. 1,350-2,250. 1,300-1,400. 1,450-1,550. 3,500-4,000. Source: Delhi grain market traders. Pundits urge fast-tracking budget to pay rice farmers Published: 23 Feb 2014 at 01.13 Newspaper section: News The caretaker government should expedite the central budget to the Bank for Agriculture and Agricultural Cooperatives (BAAC) to make overdue payments to rice farmers, a forum has been told.The forum was told this was a better option than issuing bonds that might cause legal complications.The Yingluck Shinawatra government has proposed the state-run BAAC issue 100 billion baht in promissory notes to fill the 130 billion baht for the delayed payments under the pledging scheme.Former BAAC vice-president Ennoo Suesuwan said yesterday there were three main legally-viable payment options for the Yingluck government. The bond-issuing idea would pose legal risks for BAAC authorities, he said. The best option is allocation of the central budget to the BAAC, Mr Ennoo said, adding that the central budget's sum had been approved before the House dissolution on Dec 9."The second option is for the government to draw on unused budgets from various ministries to pay the farmers," he told the forum organised by the Reforms Now Network and the National Farmers' Council (NFC). The third option was for the government to sell the stockpiled rice in state warehouses to get the money to pay the farmers' debts, he said.Thai Bankers' Association secretary-general Thawatchai Yongkittikul agreed the law did not allow the BAAC to issue the bonds for that purpose. The rice-pledging scheme needed to be resolved by the caretaker government, he said."Releasing rice stocks should be done gradually. Of course, there might be some loss [incurred from rice sales], but it remains understandable as long as we ensure there is no corruption," Mr Thawatchai said.Praphat Panyachatrak, the NFC chairman and former deputy agriculture minister in the Thai Rak Thai government, conceded that the problems in the rice-pledging scheme stemmed from the government's failure to secure loans for the BAAC before the house dissolution.Somporn Isawilanond, an economist with the National Think Tank Institute, said while the immediate problems with the delayed payments needed quick resolution, the authorities and the politicians needed to fix the scheme's problems for the next set of crops as well. Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874